Blend Labs, Inc. (NYSE:BLND) Given Consensus Rating of “Hold” by Brokerages

Blend Labs, Inc. (NYSE:BLND) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $3.3167.

A number of equities analysts recently weighed in on BLND shares. Wells Fargo & Company reduced their price target on Blend Labs from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Wednesday, March 11th. Keefe, Bruyette & Woods cut their price objective on Blend Labs from $2.25 to $1.90 and set a “market perform” rating for the company in a research report on Friday, May 8th. The Goldman Sachs Group set a $3.50 target price on Blend Labs in a research note on Friday, May 8th. Citigroup reiterated an “outperform” rating on shares of Blend Labs in a research report on Friday, May 8th. Finally, UBS Group dropped their price target on shares of Blend Labs from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 11th.

Institutional Trading of Blend Labs

A number of institutional investors and hedge funds have recently modified their holdings of BLND. PFG Advisors lifted its stake in Blend Labs by 4.9% in the 4th quarter. PFG Advisors now owns 78,956 shares of the company’s stock valued at $240,000 after buying an additional 3,684 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Blend Labs by 18.4% during the third quarter. Moneta Group Investment Advisors LLC now owns 33,922 shares of the company’s stock valued at $124,000 after acquiring an additional 5,265 shares during the last quarter. Covestor Ltd raised its holdings in shares of Blend Labs by 40.1% during the fourth quarter. Covestor Ltd now owns 18,909 shares of the company’s stock valued at $57,000 after acquiring an additional 5,409 shares during the last quarter. Barclays PLC lifted its position in shares of Blend Labs by 1.5% in the fourth quarter. Barclays PLC now owns 397,203 shares of the company’s stock valued at $1,207,000 after acquiring an additional 6,001 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Blend Labs by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 121,961 shares of the company’s stock worth $371,000 after acquiring an additional 7,368 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Blend Labs Stock Performance

Shares of Blend Labs stock opened at $1.68 on Thursday. The firm has a 50-day simple moving average of $1.56 and a two-hundred day simple moving average of $2.07. Blend Labs has a fifty-two week low of $1.18 and a fifty-two week high of $4.49. The company has a market cap of $405.55 million, a P/E ratio of -16.75 and a beta of 1.09.

Blend Labs Company Profile

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.